Topline
The U.S. and Iran have reached a tentative agreement toward ending the military conflict, though President Donald Trump has yet to sign off on the deal that would mark the most significant progress to date in the negotiations.
President Donald Trump looks on during a cabinet meeting in the Cabinet Room of the White House in Washington, DC, on May 27, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)
AFP via Getty Images
Key Facts
The memorandum of understanding would extend the ceasefire by 60 days and restart negotiations surrounding Iran’s nuclear program, U.S. sources said.
The deal was first reported by Axios.
U.S. and Iranian negotiators mostly agreed to the terms of the deal as of Tuesday, but needed sign off from senior leadership on both sides.
Trump said he wanted several days to decide.
The Strait of Hormuz would be reopened, and Iran would have to remove all mines there within 30 days, U.S. officials said.
Iran would also reportedly agree not to pursue a nuclear weapon and begin discussions on how to dispose of its enriched uranium.
What Else Does The Deal Include?
The U.S. would relieve some sanctions against Iran and help facilitate humanitarian aid. Israel and Hezbollah would also agree to end their war in Lebanon.
Key Background
News of the agreement comes hours after Iran and the U.S. engaged in crossfire for at least a second time this week. The U.S. said it conducted another round of what it described as self-defense strikes in southern Iran, downing four drones over the Strait of Hormuz. Iran responded by firing a missile toward a U.S. base in Kuwait, which was intercepted by Kuwaiti forces. The U.S. accused Iran of violating the ceasefire by firing at the base. The two sides also exchanged fire on Monday, when the U.S. attacked two Iranian vessels it said were attempting to lay mines in the Strait of Hormuz. The U.S. also fired on missile-launch sites. The Islamic Revolutionary Guard Corps responded by shooting down a U.S. drone and engaging a fighter jet in the crossfire, Iranian state media reported.
Tangent
Treasury Secretary Scott Bessent announced Thursday the agency will “be shutting down both Iranian airlines’ access to landing spots, refueling, and ticket sales.” He also said the U.S. will sanction any corporate or state entities that pay tolls to Iran to pass through the Strait of Hormuz, warning Oman that the agency will “aggressively target any actors involved.” Trump on Wednesday threatened to attack Oman if it joins Iran in controlling the strait, as Oman has reportedly engaged in discussions with Iran to do so.
Further Reading
US and Iranian negotiators reach tentative deal to extend ceasefire and launch nuclear talks (Associated Press)
Iran Threatens Retaliation After New U.S. Strikes—Hours After Trump Suggests Progress On Peace Deal (Forbes)
Iran and Oman in Talks Over Strait of Hormuz Ship Payment System (New York Times)